Cancellation And Refund Policy

I acknowledge that i have read the rules and regulations/bye-laws of the society and i agree to abide by them.

Payment Conditions

The Indian Oil Employees Greentech Co. Housing Society Ltd. shall raise the amounts due on account of Land Cost / Government Levies/ Future Construction Link Plan chosen by each member and shall give reasonable time of at least 30 days for payment from the date of issuance of such demand letter. The member shall abide by such demands which shall be made from time to time. If any member defaults in honouring such demands then Indian Oil Employees Greentech Co. Housing Society Ltd shall be at liberty to terminate his/her membership from the Group Housing Scheme by giving him/her a opportunity to clear his/her backlog of payment with interest @ 18% p.a. within a period of 180 days from the date of commence of such default.

Payment Scheme Availed : { Terms & Conditions of refund}

1) I Agree that i shall Further pay all taxes, Levies, Assessment, Stamp Duty, registration Charges, etc. on land and /or the building of the Housing Project as the case may be, proportionally till th edate the Residential Apartment is transferred to me and/or is assessed individually.

2) I understand that i can not Surrender my membership and the housing the housing application and that i can only transfer the same in favor of another person intending and eligible to become a member of the society. I further understand that i can only transfer my membership and housing application through a written application and upon prior approval of the society and after securing a No Objection Certificate from the society.

3) I understand and agree that the monies paid by me towards the housing application shall only be refunded to me after the new intending and eligible member in whose favor i shall transfer my membership pays the amount due and paybel towards the housing application sought to transferred by me.

Annual Opertaion Charge:

I Understand that each member of the society shall pay annual Operation Charges, Which have been Fixed at Rs. 5100/- for PSU Employees, Rs. 11000/- for a Govt. but Non-PSU Employees, Rs. 15000/- for a Pvt Company Employee and Rs. 21000/- For Not an Employee Per Annum by the management Committee of the Indian Oil Employees Greentech Co. Housing Society Ltd. at the present rate and which may be revised at the discretion of the management Committee of the Indian Oil Employees Greentech Co. Housing Society Ltd.

Note:

This is the present annual Operation Charges decided by the Management Committee of The Indian Oil Employees Greentech Co. Housing Society Ltd. which may be revised at the discretion of the Management Committee of The Indian Oil Employees Greentech Co. Housing Society Ltd.